Chubb Ltd (CB)

Chubb Limited is the Swiss-incorporated holding company of the Chubb Group of Companies, a global insurance and reinsurance organization headquartered in Zurich, Switzerland. It was incorporated in 1985 and still maintains operations in Bermuda. Chubb provides commercial and consumer property and casualty (P&C) insurance, accident and health (A&H) insurance, reinsurance, and life insurance in 54 countries and territories. At December 31, 2025, it had total assets of $272 billion and shareholders' equity of $74 billion. It earns income from P&C underwriting, investments, and life segment income, and emphasizes underwriting quality over volume or market share. Growth has come from higher premium volume, broader products and geography, and acquisitions, including Cigna's Asian A&H and life business in 2022 and a controlling interest in China's Huatai Insurance Group, of which it owned about 87.2 percent at year-end.

Chubb reports six segments. North America Commercial P&C Insurance (38 percent of 2025 net premiums earned of $53.0 billion) covers middle market and small business insurance, Major Accounts for large corporations, the Westchester wholesale and specialty division, and Chubb Bermuda's high excess coverage. North America Personal P&C Insurance (13 percent) serves high-net-worth individuals with homeowners, high value automobile, valuable articles, umbrella, and recreational marine coverage. North America Agricultural Insurance (5 percent) includes crop insurance through Rain and Hail, including federally subsidized Multiple Peril Crop Insurance and crop-hail, plus farm, ranch, and agribusiness coverage. Overseas General Insurance (27 percent) includes Chubb International's retail commercial, A&H, and personal lines, Huatai Property & Casualty, and the London-based wholesale division Chubb Global Markets, which includes Lloyd's Syndicate 2488. Global Reinsurance (3 percent) operates under the Chubb Tempest Re brand and offers traditional and non-traditional reinsurance to primary P&C insurers. The Life Insurance segment provides life insurance and supplemental health and personal accident products. Its product lines also include D&O, financial lines, cyber, surety, aviation, energy, political risk, and claims and risk engineering services, including through ESIS, its in-house claims administrator.

Customers include multinational corporations, mid-size and small businesses, affluent and high-net-worth individuals, companies and affinity groups offering A&H and life coverage to employees or members, and insurers seeking reinsurance. Most commercial and personal business is placed through local and international brokers and agents, who are paid commissions. Some business is sold through digital platforms such as the Chubb Marketplace, direct marketing, and, in China, nearly 200 licensed sales locations in 28 provinces.

Chubb is organized into profit centers by line of business and territory, each with autonomy within defined underwriting authorities, standards, and audit oversight. Global product boards promote consistent practices. It buys reinsurance from third parties to diversify risk and limit catastrophe and large-loss exposure. Competitors include large national and global carriers, regional and local insurers, Lloyd's syndicates, other London market carriers, captives and self-insured programs, bank-owned insurers, and China-based insurers, including state-owned entities. Chubb cites its product and geographic diversification, global licensed network, strong balance sheet, and claims service as competitive advantages.